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2122 (2122) Fair Value & Analysis

Consumer Cyclical · Market cap HK$169M

2 2122 2122 · HK
PriceHK$0.1290
Fair ValueHK$0.0200
Upside-84.5%
Quality43/100
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Evidence: Low

Fair value as of: Jul 2, 2026

From 7 valuation models · updated today

Share price −11.0% over the past month.

Price vs Fair Value (12 months)

HK$0.3600 HK$0.0570 Fair Value HK$0.0200 Jun 2025 Jul 2026

12‑month range HK$0.0570 – HK$0.3600 · the HK$0.1290 price screens above the HK$0.0200 fair value. As of Jul 2, 2026.

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Analysis

2122 (2122) currently trades at HK$0.1290, while our model-based Fair Value estimate is HK$0.0200 — implying the stock looks roughly 84.5% overvalued today. We read business quality at 43/100 (below-average quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: low).

Over the trailing twelve months, 2122 generated revenue of HK$835M at a net margin of -15.5%. Revenue declined 14.1% year over year. Net debt stands at HK$180M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$835M
Revenue growth (YoY) -14.1%
Net margin -15.5%
Return on equity -1,378%
Free cash flow HK$11.0M FY2025
Operating margin -14.2%
More key figures
EPS (TTM) HK$-0.0700
Net debt HK$180M FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2122 reported revenue of HK$835M in FY2025 versus HK$1.5B in FY2021, a compound −13.2%/yr. Reported net income was −HK$129M in FY2025.

Revenue −13.2%/yr
FY21 HK$1.5B
FY22 HK$1.1B
FY23 HK$1.2B
FY24 HK$974M
FY25 HK$835M
Net income
FY21 HK$1.3M
FY22 −HK$182M
FY23 −HK$210M
FY24 −HK$202M
FY25 −HK$129M

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Similar stocks

6 more Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

Stock Price Fair Value vs Fair Value
Alimentation Couche-Tard Inc ANCTF $57.91 $61.82 +7%
Casey's General Stores, Inc CASY $761.57 $222.50 -71%
Williams-Sonoma, Inc WSM $226.06 $164.16 -27%
Ulta Beauty, Inc ULTA $467.07 $370.46 -21%
DICK'S Sporting Goods, Inc DKS $238.57 $229.41 -4%
China Tourism Group 601888 ¥56.79 ¥48.19 -15%

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Frequently asked questions

Is 2122 (2122) undervalued?
As of Jul 2, 2026, our model estimates a fair value of HK$0.0200 versus a price of HK$0.1290 — about −84% (overvalued). Model-based estimate, not financial advice.
What is the fair value of 2122?
Our model-based fair value for 2122 is HK$0.0200 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$0.1290.
What is the quality score of 2122?
2122 has a Quality Score of 43/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of 2122 (2122)?
2122 reported trailing-twelve-month revenue of about HK$835M (latest available figure, as of Jul 2, 2026).
What is the net profit margin of 2122?
The net profit margin of 2122 is about -15.5%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.